Papa John's International, Inc. announces filing for public offering of common stock

Business Wire, July 28, 1995

LOUISVILLE, Ky.--(BUSINESS WIRE)--July 28, 1995--Papa John's International, Inc. (NASDAQ:PZZA) announced today the filing with the Securities and Exchange Commission of a Registration Statement relating to a proposed offering of 1,350,000 shares of its common stock.

Of the shares being offered, 700,000 shares will be offered by the Company and 650,000 shares will be offered by selling shareholders. The offering will be made through Montgomery Securities, Alex. Brown & Sons Inc. and Wessels, Arnold & Henderson.

The net proceeds of the offering will be used primarily to fund the development of additional Company-owned restaurants and commissaries. The Company plans to open 35 restaurants during the second half of 1995 and 70 restaurants in 1996. The Company expects to open a distribution center in Texas during the first quarter of 1996 and an additional full-service commissary in Colorado during the second half of 1996.

A registration statement relating to the offering has been filed with the Securities and Exchange Commission, but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. The proposed offering will only be made by means of a prospectus. This news release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the preliminary prospectus can be obtained from the offices of Montgomery Securities, 600 Montgomery St., San Francisco, Calif. 94111, Alex. Brown & Sons Inc., 135 E. Baltimore St., Baltimore, Md. 21202, or Wessels, Arnold & Henderson, 901 Marquette Ave., Minneapolis, Minn. 55402.

The Company operates and franchises pizza delivery and carry-out restaurants under the trademark "Papa John's" in 21 states, principally in the Midwest, Mid-Atlantic, South and Southeast. At July 23, 1995, there were 758 Papa John's restaurants in operation, consisting of 174 Company-owned and 584 franchised restaurants.

CONTACT: Papa John's International Inc., Louisville

Dru Milby, 502/266-5200